Shares of energy companies rose after President Trump said he believed his ceasefire deal with Iran was over and that the U.S. would likely carry out more strikes soon.
The latest tensions began with Iranian attacks on ships in the Strait of Hormuz, which snarled efforts to reopen the strategic waterway. "With a full reopening now nearly fully priced, there is little left that can go right and a good deal that can go wrong - particularly after the elections, which, while not imminent, are close enough for the market to begin worrying about them," said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund, in a note to clients.
U.S.-traded oil futures settled above $73 a barrel after being up by 8% at their peak of the session.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
